Amazon trades $20 million in affordable housing for more FAR in Virginia


Amazon is offering $20 million to the Arlington County Affordable Housing Investment Fund in exchange for being allowed to build a bigger headquarters complex in the county than zoning allows. ...it would be the greatest single infusion of money ever into Arlington’s housing fund, which in recent years received between $14 million and $16 million annually from the county government and $5 million to $6 million in loan repayments from developers.



According to The Washington Post, the affordable housing proposal has been long awaited by Arlington residents who worry about the arrival of thousands of well-paid Amazon employees and the higher rents and housing costs that could result.

In exchange for the donation, Amazon hopes to increase the allowable size of its new ZGF Architects-designed HQ. Additionally, the company plans to create 25,000 new jobs and invest $2.5 billion in building its headquarters in the Pentagon City and Crystal City neighborhoods over the next decade, reports The Washington Post.

Sean Joyner via Archinect - News http://bit.ly/2Orpgja

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